Novartis CEO Writes a Prescription for the Swiss Drug Giant's Success

Joseph Jimenez has steered the Swiss drug giant deftly through the patent expiration on its top-selling drug. Up next: record earnings.

Novartis CEO Joseph Jimenez isn't a medical doctor like his predecessor, Daniel Vasella. Nonetheless, since becoming boss in February 2010, Jimenez has written the right prescription for the Swiss drug giant's success.

His appointment coincided with a critical moment in Novartis' history: the patent expiration on Diovan, a treatment for hypertension that had been the company's best-selling drug for more than a decade. As generic substitutes entered the market, Novartis' revenue and profit slipped. But the company is...